Social Media Analytics

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A look at what social media analytics, KPIs and other insights you should be focusing on to help improve your social media marketing campaigns.

A look at what social media analytics, KPIs and other insights you should be focusing on to help improve your social media marketing campaigns.

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  • Brand mentionsProduct mentionsKeyword mentionsInfluencer mentionsCompetitor mentions
  • What are people saying about you already? Find out with word clouds.
  • Time, money & resources
  • Brand recognition – see word clouds and how they’ve changed.

Transcript

  • 1. Social Media Analytics Taylor Pratt Raven Internet Marketing Tools@RavenPratt | raventools.com/oms
  • 2. What is the ROI of social media?
  • 3. The key to social media success isunderstanding your audience.
  • 4. Don’t get distracted!
  • 5. Nielsen’s State of the Media:The Social Media Reporthttp://raven.im/nielsensm
  • 6. Nearly 4 in 5 active Internet users visitsocial networks and blogs.
  • 7. 70% of active online adult socialnetworkers shop online, 12% morelikely than the average adult user
  • 8. Socially engaged consumers spend 20to 40% more than other customers.
  • 9. 53% of active social networkersfollow a brand.
  • 10. How do consumers access social media? Are you• 97% - Computer ready?• 37% - Mobile Phone• 3% - Gaming Console• 3% - iPad• 2% - Internet-Enabled TV• 2% - E-Reader• 1% - Handheld Music Player
  • 11. What is the ROI of social media?
  • 12. According to Oliver Blanchard, you’reasking the wrong question.
  • 13. What is the ROI of [insert activityhere] in social media? Oliver Blanchard The BrandBuilder Blog Author of Social Media ROI
  • 14. Social Media Marketing Process Discovery Measurement Listening Execution Planning
  • 15. Social Media Marketing ProcessDISCOVERY
  • 16. Start Monitoring Brand [Keyword]Mentions Product Mentions Mentions Competitor Influencer Mentions Mentions
  • 17. What to IdentifySocial NetworksForumsAssociationsKey InfluencersPopular Topics
  • 18. Tools That Can Help $150/mo $775/mo $99/moBased on Usage Free Based on Usage
  • 19. Social Media Marketing ProcessLISTENING
  • 20. Understand your audience!
  • 21. How are your customers using socialmedia?
  • 22. Where are they participating?
  • 23. Do they interact with othercompanies?
  • 24. What are they already saying aboutyou?
  • 25. What is their activity level on eachsocial network?
  • 26. Who are the key influencers on eachnetwork?
  • 27. Save time and money by properlyevaluating potential advocates.
  • 28. Create a Scorecard Customer Advocate Share of Voice Reach Topics Overlap Arachnoids,Peter Parker 5% 50,000 Red Heads, Medium Goblins Tank Tops,Hulk Hogan 2% 25,000 High Weight Lifting Cheesy Poofs,Eric Cartman 12% 120,000 Low Racial Slurs
  • 29. Don’t overlook social media as aproduct innovation hub.
  • 30. Monitor both your brand, yourcompetitors’ brands and keywordmentions for customer pains.
  • 31. Social Media Marketing ProcessPLANNING
  • 32. Step 1: identify your businessobjectives
  • 33. Types of Social Media Goals• Engagement • Customer Support• Brand Recognition • Product• Reach Development• Share of Voice • Brand Sentiment• Sales • Brand Advocates• Brand Loyalty • Brand Trust
  • 34. Get more specific!• Reduction in sales cycles• Reduction in customer support costs• Number of product improvement suggestions from [social network]• Increase in product reviews/ratings• Number of people in [specific location] who follow us on Twitter
  • 35. Other KPIs to Consider• Volume of consumer- • Interaction/engagement created buzz rate• Seasonality of buzz • Number of interactions• Rate of virality • Store locator views• Embeds/installs • Registrations by channel• Increases in searches • User-initiated views• Ranking improvements
  • 36. Step 2: identify your value add
  • 37. Wal-Mart: Low PricesSouthwest Airlines: Freedom Harley Davidson: Rebellion
  • 38. Step 3: define your level ofcommitment
  • 39. Social Media Marketing ProcessEXECUTION
  • 40. How is social media impacting yourother online marketing activities?
  • 41. Social Media Marketing ProcessMEASUREMENT
  • 42. Brand Awareness Brand Share ofRecognition VoiceEngagement Reach
  • 43. To measure Share of Voice comparebrand mentions to competitors.
  • 44. Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
  • 45. To measure Engagement, measureparticipation.
  • 46. [Social Network] Interactions Engagement = Engagement Total ViewsSource: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
  • 47. To measure Reach, compare audienceparticipation to your audience reach.
  • 48. Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
  • 49. Customer Oriented Goals Customer Brand Sentiment Support Product BrandDevelopment Advocates
  • 50. Measuring Customer SupportReduction in Increase Increase Support Resolution Resolution Costs Rate RateReduction in Improved Leads On-Site Customer Generated Support Satisfaction by Support
  • 51. Measuring Brand SentimentSentiment by volume of posts and impressionsNumber of positive reviews generatedNumber of mentions of your brand’s value addAverage resolution time to reputation crises
  • 52. Measuring Product Innovation Number of new Number of new product ideas product ideas built Traditional R&D time saved research cost savings
  • 53. Measuring the success of your brand advocatesfulfills two goals:1. Provides an understanding of the ROI you receive2. Provides you with data to better incentivize advocates
  • 54. It is okay to reward advocates for theirhard work. Wouldn’t you want to berewarded?
  • 55. Use event tracking in Google Analyticsto quickly assess the virality of yourcontent.
  • 56. http://gaconfig.com
  • 57. The key to successful social mediameasurement is asking questions.
  • 58. Thank You! Taylor Pratt Raven Internet Marketing Tools@RavenPratt | raventools.com/oms